Raymond James Financial Services Advisors Inc. Buys New Stake in ViaSat, Inc. (VSAT)
Raymond James Financial Services Advisors Inc. bought a new stake in shares of ViaSat, Inc. (NASDAQ:VSAT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 7,006 shares of the communications equipment provider’s stock, valued at approximately $464,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of ViaSat by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,284 shares of the communications equipment provider’s stock valued at $7,765,000 after acquiring an additional 2,330 shares during the period. MIG Capital LLC raised its holdings in ViaSat by 6.1% during the second quarter. MIG Capital LLC now owns 576,000 shares of the communications equipment provider’s stock worth $38,131,000 after buying an additional 33,247 shares during the last quarter. State Street Corp raised its holdings in ViaSat by 5.3% during the second quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock worth $116,669,000 after buying an additional 88,421 shares during the last quarter. Mountain Lake Investment Management LLC raised its holdings in ViaSat by 1,263.6% during the second quarter. Mountain Lake Investment Management LLC now owns 255,000 shares of the communications equipment provider’s stock worth $16,881,000 after buying an additional 236,300 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in ViaSat during the second quarter worth $206,000. Institutional investors own 99.59% of the company’s stock.
Shares of ViaSat, Inc. (NASDAQ:VSAT) opened at $64.12 on Friday. The firm has a market cap of $3,732.47, a P/E ratio of 169.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.44 and a current ratio of 2.02.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $384.29 million. During the same period in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. analysts expect that ViaSat, Inc. will post -1.05 earnings per share for the current fiscal year.
In other news, COO Richard A. Baldridge sold 35,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $59.92, for a total value of $2,097,200.00. Following the sale, the chief operating officer now directly owns 59,000 shares of the company’s stock, valued at approximately $3,535,280. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $65.40, for a total transaction of $45,780.00. Following the completion of the sale, the director now directly owns 10,300 shares in the company, valued at $673,620. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,350 shares of company stock worth $9,936,177. Insiders own 7.70% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of ViaSat from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Royal Bank Of Canada lowered their price objective on shares of ViaSat from $50.00 to $48.00 and set an “underperform” rating on the stock in a report on Thursday, October 5th. Jefferies Group LLC set a $67.00 price objective on shares of ViaSat and gave the stock a “hold” rating in a report on Sunday, September 10th. B. Riley restated a “buy” rating and set a $89.00 price objective on shares of ViaSat in a report on Sunday, August 13th. Finally, TheStreet downgraded shares of ViaSat from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. ViaSat presently has a consensus rating of “Hold” and an average price target of $73.70.
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ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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